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a day ago
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- Yahoo
Here's What Boosted Vertiv Holdings Co (VRT) in Q2
Baron Funds, an investment management company, released its 'Baron Small Cap Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the second quarter of 2025, the fund was up 10.38%% (Institutional Shares) compared to the Russell 2000 Growth Index's (the Index) 11.97% return. Year to date, the Fund is up 0.36% compared to the index's (0.48)% return. Small-cap stocks recovered well during the quarter and performed in line with the overall market but have significantly trailed larger-cap stocks this year. In addition, please check the fund's top five holdings to know its best picks in 2025. In its second-quarter 2025 investor letter, Baron Small Cap Fund highlighted stocks such as Vertiv Holdings Co. (NYSE:VRT). Vertiv Holdings Co. (NYSE:VRT) provides critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments. The one-month return of Vertiv Holdings Co. (NYSE:VRT) was 13.05%, and its shares gained 95.06% of their value over the last 52 weeks. On August 7, 2025, Vertiv Holdings Co. (NYSE:VRT) stock closed at $139.39 per share, with a market capitalization of $53.228 billion. Baron Small Cap Fund stated the following regarding Vertiv Holdings Co (NYSE:VRT) in its second quarter 2025 investor letter: "Vertiv Holdings Co (NYSE:VRT), a leading provider of cooling, power, and IT management solutions for data centers, contributed to performance during the quarter. The stock rallied nearly 80% in the second quarter as the market grew more confident in the durability of data center investment, particularly AI infrastructure, especially amid concerns of a slowdown and tariff impacts just a few months ago. Vertiv is deeply embedded in its customers' technology roadmaps and stands to benefit as AI data centers become increasingly complex and require more advanced power and cooling solutions. Vertiv remains a top holding as it maintains a strong competitive advantage and is well positioned for multi-year growth. We believe Vertiv can grow its EBITDA at strong double-digit rates for the foreseeable future, and the stock can compound from here." A close-up of a group of technicians working on complex data center systems. Vertiv Holdings Co (NYSE:VRT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 90 hedge fund portfolios held Vertiv Holdings Co (NYSE:VRT) at the end of the first quarter, which was 92 in the previous quarter. While we acknowledge the potential of Vertiv Holdings Co (NYSE:VRT) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Vertiv Holdings Co (NYSE:VRT) and shared top AI stocks taking Wall Street by storm. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
Churchill Downs Incorporated (CHDN) Sold Off Following Earnings Release
Baron Funds, an investment management company, released its 'Baron Real Estate Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund rose 3.61% (Institutional Shares) in the quarter compared to a 1.46% decline for the MSCI US REIT Index (the REIT Index) and a 6.13% gain for the MSCI USA IMI Extended Real Estate Index (the MSCI Real Estate Index). In addition, please check the fund's top five holdings to know its best picks in 2025. In its second-quarter 2025 investor letter, Baron Real Estate Fund highlighted stocks such as Churchill Downs Incorporated (NASDAQ:CHDN). Churchill Downs Incorporated (NASDAQ:CHDN) is a US-based racing, online wagering, and gaming entertainment company. The one-month return of Churchill Downs Incorporated (NASDAQ:CHDN) was 1.04%, and its shares lost 21.40% of their value over the last 52 weeks. On August 29, 2025, Churchill Downs Incorporated (NASDAQ:CHDN) stock closed at $106.39 per share, with a market capitalization of $7.461 billion. Baron Real Estate Fund stated the following regarding Churchill Downs Incorporated (NASDAQ:CHDN) in its second quarter 2025 investor letter: "Churchill Downs Incorporated (NASDAQ:CHDN), which has acquired and developed various entertainment assets including the Churchill Downs racetrack which hosts the Kentucky Derby, was a detractor during the quarter following an earnings release that showed weakening trends in their Virginia market and lower-than-expected Kentucky Derby earnings. The company also indefinitely delayed a large project to expand the Kentucky Derby, but it was not clear about pivoting available capital to buying-back shares. We believe the Virginia market and their regional gaming portfolio may remain under pressure. The company has numerous growth projects with attractive prospects, but developments will take time to ramp to full profitability and in the meantime leverage remains high. Due to uncertain business trends and concerns around competitive pressures in their Virginia market, we decided to exit the position." A city skyline looking down on a busy racetrack with jockeys on horseback. Churchill Downs Incorporated (NASDAQ:CHDN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Churchill Downs Incorporated (NASDAQ:CHDN) at the end of the first quarter, which was 41 in the previous quarter. In the second quarter of 2025, Churchill Downs Incorporated (NASDAQ:CHDN) delivered all-time record net revenue of $934 million and all-time record adjusted EBITDA of $451 million. While we acknowledge the potential of Churchill Downs Incorporated (NASDAQ:CHDN) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Churchill Downs Incorporated (NASDAQ:CHDN) and shared The London Company Mid Cap Strategy's views on the business. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
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Here's Why Baron Real Estate Fund Bought Airbnb (ABNB)
Baron Funds, an investment management company, released its 'Baron Real Estate Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund rose 3.61% (Institutional Shares) in the quarter compared to a 1.46% decline for the MSCI US REIT Index (the REIT Index) and a 6.13% gain for the MSCI USA IMI Extended Real Estate Index (the MSCI Real Estate Index). In addition, please check the fund's top five holdings to know its best picks in 2025. In its second-quarter 2025 investor letter, Baron Real Estate Fund highlighted stocks such as Airbnb, Inc. (NASDAQ:ABNB). Headquartered in San Francisco, California, Airbnb, Inc. (NASDAQ:ABNB) operates a platform that connects hosts and guests. The one-month return of Airbnb, Inc. (NASDAQ:ABNB) was -6.21%, and its shares lost 0.16% of their value over the last 52 weeks. On August 1, 2025, Airbnb, Inc. (NASDAQ:ABNB) stock closed at $128.02 per share, with a market capitalization of $79.016 billion. Baron Real Estate Fund stated the following regarding Airbnb, Inc. (NASDAQ:ABNB) in its second quarter 2025 investor letter: "During the most recent quarter, we initiated a new position in Airbnb, Inc. (NASDAQ:ABNB). We have been following and meeting with the company since its IPO in 2020 and took advantage of the indiscriminate sell-off in April to buy a high-quality company that was on sale with a favorable risk/reward setup under a wide range of economic scenarios. Airbnb is the largest technology-enabled hospitality platform in the world with 8 million listings and 5 million hosts across 220 countries and 100,000 cities. We are optimistic regarding the multi-year prospects for Airbnb due to: i) its leading share in alternative accommodations and scale driving strong brand awareness and repeat bookings; ii) 90% direct traffic allowing for lower customer acquisition costs; iii) its strong value proposition to both guests and hosts, leading to differentiated listings and exclusive inventory; iv) a unique two sided marketplace of user reviews curating an ecosystem of trust between guests and hosts; and, v) imbedded free call options with the company's recently launched experiences, services, and other incremental products to be introduced in the coming years (e.g. longer-term stay apartments, host services, partnerships)." A vacation home luxury bedroom setup with stunning decor showing a desired getaway experience. Airbnb, Inc. (NASDAQ:ABNB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 66 hedge fund portfolios held Airbnb, Inc. (NASDAQ:ABNB) at the end of the first quarter, compared to 54 in the previous quarter. Airbnb, Inc. (NASDAQ: ABNB) reported a revenue of $2.3 billion in the first quarter of 2025, which represents a 6% increase compared to Q1 2024. While we acknowledge the potential of Airbnb, Inc. (NASDAQ:ABNB) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Airbnb, Inc. (NASDAQ:ABNB) and shared Madison Large Cap Fund's views on the company. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
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Is Brookfield Asset Management Ltd. (BAM) Attractively Valued?
Baron Funds, an investment management company, released its 'Baron Real Estate Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund rose 3.61% (Institutional Shares) in the quarter compared to a 1.46% decline for the MSCI US REIT Index (the REIT Index) and a 6.13% gain for the MSCI USA IMI Extended Real Estate Index (the MSCI Real Estate Index). In addition, please check the fund's top five holdings to know its best picks in 2025. In its second-quarter 2025 investor letter, Baron Real Estate Fund highlighted stocks such as Brookfield Asset Management Ltd. (NYSE:BAM). Brookfield Asset Management Ltd. (NYSE:BAM) is a subsidiary of Brookfield Corporation that provides alternative asset management services. The one-month return of Brookfield Asset Management Ltd. (NYSE:BAM) was 5.28%, and its shares gained 46.74% of their value over the last 52 weeks. On August 1, 2025, Brookfield Asset Management Ltd. (NYSE:BAM) stock closed at $59.81 per share, with a market capitalization of $96.455 billion. Baron Real Estate Fund stated the following regarding Brookfield Asset Management Ltd. (NYSE:BAM) in its second quarter 2025 investor letter: "Brookfield Asset Management Ltd. (NYSE:BAM) is the asset management arm that was spun out from Brookfield Corporation in December 2022. Brookfield was a contributor to performance due to continued strong fundraising in a volatile macro and geopolitical backdrop along with improving margins and fee-related earnings growth. Brookfield Asset Management is a leading global alternative asset manager with approximately $1 trillion of assets under management across renewable power & transition, infrastructure, private equity, real estate and credit. We had previously written about and had consistently believed that the captive asset manager was undervalued when it was housed within the broader Brookfield organization. The tax-free spin-out to existing holders simplified the organization and allowed shareholders to access a steady earnings stream underpinned by base management fees (versus highly variable performance fees) that have a high degree of growth visibility. The market has come to our view with the shares of Brookfield Asset Management trading in-line or a slight premium to other alternative asset managers. We had argued for a premium valuation given our view that Brookfield Asset Management would be able to grow its fee-related earnings per share in the upper teens for the foreseeable future. We continue to believe shares are attractively valued given the multi-year earnings outlook for the Company." A skyline of modern office towers built with investments from the alternative asset manager. Brookfield Asset Management Ltd. (NYSE:BAM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held Brookfield Asset Management Ltd. (NYSE:BAM) at the end of the first quarter which was 21 in the previous quarter. While we acknowledge the potential of Brookfield Asset Management Ltd. (NYSE:BAM) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Brookfield Asset Management Ltd. (NYSE:BAM) and shared the list of best fast growth stocks to invest in. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
31-07-2025
- Business
- Yahoo
CORRECTING and REPLACING CI Global Asset Management Refiles Management Reports of Fund Performance
TORONTO, July 31, 2025--(BUSINESS WIRE)--Please replace the release with the following corrected version due to revisions to the first paragraph. The updated release reads: CI GLOBAL ASSET MANAGEMENT REFILES MANAGEMENT REPORTS OF FUND PERFORMANCE CI Global Asset Management ("CI GAM") refiled the Annual Management Reports of Fund Performance (the "MRFPs") for the funds listed below on July 31, 2025. The refiling is to correct inadvertent misstatements in the disclosure of the funds' management expense ratios ("MERs") and trading expense ratios ("TERs"). No other changes were made to the funds' MRFPs. Fund Series OriginalMER (%) CorrectedMER (%) OriginalTER (%) CorrectedTER (%) CI Select 100e Managed Portfolio Corporate Class A 2.87 2.60 0.28 0.27 AT5 2.92 2.65 AT8 2.91 2.64 E 2.65 2.39 EF 1.60 1.33 EFT5 1.64 1.38 EFT8 1.64 1.38 ET5 2.78 2.52 ET8 2.91 2.64 F 1.78 1.51 FT5 1.83 1.56 FT8 1.80 1.53 I 0.43 0.16 IT5 0.43 0.16 IT8 0.42 0.16 O 0.59 0.32 OT5 0.60 0.33 OT8 0.59 0.32 P 0.67 0.40 PT5 0.65 0.39 PT8 0.65 0.39 CI Portfolio Series Maximum Growth Fund A 2.85 2.58 0.26 0.25 AT5 2.69 2.43 AT8 2.92 2.66 E 2.70 2.43 EF 1.67 1.41 EFT5 1.64 1.38 EFT8 1.65 1.39 ET5 2.77 2.51 ET8 2.78 2.52 F 1.76 1.50 FT8 1.69 1.43 I 0.41 0.15 O 0.58 0.32 OT5 0.57 0.31 OT8 0.58 0.32 P 0.66 0.40 PT8 0.65 0.39 CI U.S. Aggregate Bond Covered Call Fund A 1.53 1.45 1.19 1.17 F 0.67 0.59 I 0.22 0.14 P 0.28 0.20 W 0.28 0.20 CI Conservative Asset Allocation Fund A 0.86 0.84 0.75 0.69 F 0.30 0.27 I 0.05 0.02 P 0.10 0.08 W 0.10 0.08 The corrected MRFPs are available through SEDAR+ at and through CI GAM's website at About CI Global Asset Management CI Global Asset Management ("CI GAM") is one of Canada's largest investment management companies. It offers a wide range of investment products and services and is on the web at CI GAM is a subsidiary of CI Financial Corp. (TSX: CIX), an integrated global asset and wealth management company with approximately $546.1 billion in assets as at March 31, 2025. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the simplified prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase mutual funds managed by CI Global Asset Management and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Every effort has been made to ensure that the material contained in this document is accurate at the time of publication. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor. CI Global Asset Management is a registered business name of CI Investments Inc. ©CI Investments Inc. 2025. All rights reserved. View source version on Contacts Murray OxbyVice-President, Corporate CommunicationsCI Global Asset Management416-681-3254moxby@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
